The steps below will walk you through posting batch depreciation on a monthly basis.
AssetEdge posts summary depreciation posts which will group your assets by class, creating one entry per class and creating two line items for each asset in the entry. Therefore, no detail is lost but the journal is not clogged down with one entry for every asset. That being said, your GL will still have the detail, so if you choose to run a GL detail you will get a lot of it!
Setup and Review a Post
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There are two ways to get to a new depreciation posting (see depictions below) :
A. From the fixed assets overview menu, select Post Depreciation. From the depreciation batch list screen, select "New Post Depreciation Expense" in the upper left corner of the screen. This is pictured below.
B. Hover over the Fixed Asset tab on the Intacct main menu across the top of your screen, navigate to "Post Depreciation" and click the + next to it. This will take you straight to the create new posting screen.
A or B
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Now that you have the New Post Depreciation Expense screen up, it is time to select the end date for the post you want to create. Most of the time, this is going to be the current or prior month.
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Click Set Up Posting for Review. This will give you a chance to review the entry before you post it.
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You can now review all the depreciation post information before completing the entry. The Summary Post Information tab displays basic details about the post, including it's GL posting date.
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Clicking over to the Detailed Posting Data by Class, we see just that, more detail for each asset categorized by asset class. NOTE: The subtotals by class are also broken out in the graph on the Summary Post Information tab. This is just presenting the data in different ways.
Edit Button
The Edit button is not a way to edit the contents of the post. If you have made a mistake in selecting the wrong GL posting date, you will be able to modify this when you select "Post Depreciation" described below. If you have made a mistake with the period end date, use the Delete button, described below.
Delete Button
If you want to erase the entry you have created for review, use the delete button. The entry has only be created at this point, not posted to the GL, so you are safe to create it and delete it if you need to.
Removing Assets from Post
If you would like to remove certain assets from the post, you can do so by selecting the Remove Assets From Posting button in the upper right corner of the screen. Use the pick list on the left to choose which assets you want to remove, then click Remove From Posting. Click the Process Changes button to save your work. These assets will not post and will need to be individually posted later using the
Quick Depreciation Post guidance.
Reset Post Depreciation
This functions as a start over button that will restore removed assets the post. It also functions as a refresh button, adding assets into the post that were placed into service after the post was created. It searches your asset listing for all assets with depreciation due for the posting's period end date, which was specified to create the post. You will have to click the Yes button to confirm the reset. This is the same as deleting and recreating the post.
Post Depreciation
Once you have reviewed your post, click the Post Depreciation button to confirm the entry. You can change the date of your entry here. NOTE: You cannot future date the GL posting date if any asset in the post is in a currency different than that entity's base currency.
Click the Yes button to save the depreciation post.
Once the depreciation is posted, you can drill into the entries that were created by navigating to the Detailed Posting Data by Class tab and clicking on a GL entry link as shown below.
Posted Depreciation Expense Example:
Run Custom Report on Posted Depreciation
After a bulk entry has been posted, you may want to filter the entry down by class or view posted depreciation for a certain date range. While in the Post Depreciation Expense screen on the Detailed Posting Data by Class tab, click the Run Custom Report on Posted Period link as shown below. For instructions on the report filter screen and how to view the report, follow steps 3-5 in the
Out-of-the-Box Reports section. This reports functions the same way as the other built-in reports, it is just conveniently located right in the posted depreciation expense screen.
